Bitcoin price is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.
Ethereum price has stopped in its tracks as it approaches a critical hurdle. The drop in momentum can be attributed to Bitcoin’s slump in buying pressure. Regardless, a decisive flip of the immediate barrier could trigger a minor run-up for ETH.
Cardano (ADA) is stalling for a second day after the small fade it underwent on Thursday. Although several asset classes look calm and there is no real panic in the markets, it could become clear that cryptocurrencies are simply not on the wish list this year for shoppers on Black Friday and Christmas. Expect with this a small grind lower that could silently rip through the low of this year and see ADA flirt with $0.28 to the downside.
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